Extension of GST Return Filing Timelines, Appeal and Compliance

Extension of GST Return Filing Timelines, Appeal and Compliance – Coronavirus

Extension of GST Return Filing Timelines, Appeal and Compliance

The Ministry of Finance had announced several relief measures to cater to the business affected due to the prevailing lockdown for COVID-19 pandemic. The Central Board of Indirect Taxes and Customs (CBIC) has also issued a set of notifications regarding the extension of time limit for filing of the appeal, furnishing of GST return and other compliance under the GST Act to provide relief to taxpayers. These notifications are released in the official Gazette as per the requirement of Government of India and this article will provide details on the same.

The Gist of the Notifications

As a trade facilitation measure during the outbreak of COVID-19, the time limit for filing of the appeal, furnishing of GST return, or any other compliance under the GST Act has been extended. The important declaration of notification is as follows:

  • FORM GSTR-3B – Extension of due date for furnishing FORM GSTR-3B for supply made in May 2020
  • Compliance and e-way Bills – The CBIC has extended the due date of GST compliance which falls during the period from 20.03.2020 to 29.06.2020 to 30.06.2020 and also extended the validity of e-way bills
  • FORM GST CMP-08 and FORM GSTR-4 – The due date for FORM GST CMP-08 for the quarter ending March 2020 is extended to 07.07.2020 and filing GST returns in FORM GSTR-4 for the financial year 2020-21 is also extended to 15.07.2020
  • Conditional Waiver of Penalty for FORM GSTR-1 Late Filing – Conditional waiver of penalty for delay in submitting outward statement in the FORM GSTR-1 for tax periods of February to April 2020.
  • Conditional Waiver of Penalty for FORM GSTR-3B Late Filing – Conditional waiver of late fee for delay in furnishing FORM GSTR-3B return for tax periods of February 2020 to April 2020.
  • Interest Rate – The CBIC has announced that the conditional lowering of the rate of interest for tax periods of February 2020 to April 2020
  • Fourth Amendment CGST Rules Rules – The CBIC has amended the CGST Rules to allow opting Composition Scheme for Financial Year 2020-21 till 30.06.2020

New GSTR-3B Return Due Dates – COVID 19

The deadline for filing  GSTR-3B returns for March, April, and May this year has been extended till June 30, 2020. Companies with an aggregated annual turnover of less than Rs. 5 Crore can file GSTR-3B return due in March, April, and May 2020 by the last week of June without furnishing any penalties.

Know more about the New GSTR-3B Return Due Dates – COVID 19

Extension of Time Limit for Compliance under GST

As per the notification, the time limit for any compliance registered under the GST laws has been extended to June 30, 2020. This applies to compliance expiries between March 20, 2020, and June 29, 2020, has been extended to June 30, 2020.

The due date for issue of notice, approval order, notification, filing an appeal, furnishing returns, statements and reports have been extended to June 300.

Extension of e-way Bills

With lakhs of goods trucks stranded on highways due to the COVID-19 lockdown, the Government has extended the validity of e-way bills that expires between March 20 and April 15 to April 30, 2020.

Extension for filing FORM GST CMP-08 and FORM GSTR-4

As per the notification, the CBIC has extended the due date of furnishing FORM GST CMP-08 for the quarter ending March 2020 to July 7th and filing FORM GSTR-4 for the financial year 2020-2021 is extended to 15.07.2020.

Conditional Waiver of Penalty for FORM GSTR-1 Late Filing

According to the notification, the amount of late fee payable under section 47 of the  Central Goods and Services Tax Act, 2017 (12 of 2017), will stand waived for March 2020, April 2020 and May 2020.

In case the registered persons who fail to furnish the details of outward supplies in FORM GSTR-1 by the due date can furnish the details in FORM GSTR-1, on or before the 30th day of June 2020.

Conditional Waiver of Penalty for FORM GSTR-3B Late Filing

As per this notification, the amount of late fee payable under section 47 of the Central Goods and Services Tax Act, 2017 shall stand waived for the tax period with a certain condition. If a person fails to furnish the returns in FORM GSTR-3B before the due date but furnishes the concern return according to the certain condition, then there will be no penalty for Form GSTR – 3B Late Filing. The Conditional Waiver of Penalty for FORM GSTR-3B Late Filing is as follows:

Sl.NoType of Tax PayerTax PeriodCondition
1Taxpayers having an annual turnover of more than Rs.5 crore in the preceding financial yearFebruary March and April 2020If FORM GSTR3B return is furnished on or before the 24.07.2020
2Taxpayers having an annual turnover of more than Rs.1.5 crore and up to Rs. 5 crores in the preceding financial yearFebruary and March 2020If FORM GSTR- 3B return is furnished on or before the 29.06.2020
April 2020If return in FORM GSTR3B is furnished on or before the 30/06/2020
3Taxpayers having an annual turnover of up to Rs.1.5 crore in the preceding financial yearFebruary 2020If FORM GSTR3B return is furnished on or before the 30.06. 2020
March 2020If return in FORM GSTR3B is furnished on or before the 03.07.2020
April 2020If return in FORM GSTR3B is furnished on or before the 06.07.2020

Conditional Lowering of Interest Rate for Tax periods (February to April 2020)

If a person is required to furnish the FORM GSTR-3B return but fails to furnish the return along with payment of tax for the months (February to March) before the due date, but furnish the return according to the condition mentioned above, need to pay interest. The interest rate is as follows:

Sl.NoType of Tax PayerTax PeriodRate of interestCondition
1Taxpayers having an aggregate turnover of more than Rs.5 crore in the preceding financial yearFebruary March and April 2020Nil for the first 15 days from the due date, and 9% thereafterIf FORM GSTR-3B return is furnished on or before the 24.07.2020

Note: There is no interest rate for all class of registered taxpayers.

CGST Fourth Amendment Rules

As per the notification, any registered person who opts to pay tax under section 10 of the Central Goods and Services Tax Act, 2017 for the financial year 2020-2021 can electronically file an intimation in FORM GST CMP-02,  on the common portal on or before 30.07.2020 and he/she can furnish the statement in FORM GST ITC-03 Upto the 31.08.2020.

This condition will apply cumulatively for the period February, March, April, May, June, July and August 2020 and the return in FORM GSTR-3B for the tax period September 2020 can be filed with the cumulative adjustment of ITC (Input tax credit).

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